The US Energy Information Administration has sharply raised its forecast for oil prices this year, warning that severe restrictions on shipping through the Strait of Hormuz are likely to persist through August despite President Donald Trump's repeated assertions that the strategic waterway is open.
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Global chip giant Nvidia is teaming up with Wall Street's big guns including Apollo, Blackstone and Goldman Sachs to mobilise over $500 billion for AI infrastructure, as part of its ambitious plan to turn AI chips into a new asset class that investors can fund much like real estate or other critical infrastructure.
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Al Rajhi Capital and LogiPoint have entered into a deal to establish a dedicated investment fund for the development of the South Jeddah Logistics and Industrial Park, a landmark mixed-use logistics and industrial project in the Saudi port city, at a total investment of SAR5 billion ($1.3 billion).
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Oil prices extended their rally on Tuesday after surging about 5% in the previous session, as fresh demands by US President Donald Trump and Iran's insistence on major concessions from Washington cast renewed doubt over efforts to reopen the strategically vital Strait of Hormuz.
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Oil prices are climbing once again, and with them, fears that inflation could make an unwelcome return. Renewed tensions between the US and Iran have shifted investors' attention back to the impact of higher energy costs on the global economy, said a leading global market strategist.
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Space42, the UAE-based AI-powered SpaceTech company, and Autonomous A2Z (A2Z), South Korea's leading autonomous driving company, have signed a commercial agreement valued at $7 million to deploy Level-4 mobility solutions in the UAE.
China's Anta Scaffolding has been named the specialised scaffolding contractor for a part of the mega Al Maktoum International Airport project in Dubai. Its scope of work covers scaffolding works tied to the underground structural construction, including those related to the underground tunnel sections.
Dubai Aerospace Enterprise (DAE), the global aviation services company, has signed a purchase agreement with Saudia, the kingdom's national flag carrier, for four new Boeing 777F planes and also entered into long-term leases for these aircraft, delivering between this October and May next year.
The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has introduced a new travel trade initiative that enables participating partners to offer complimentary UAE entry visas to Indian passport holders booking holidays in Abu Dhabi.
ADNOC Gas, a key subsidiary of Abu Dhabi National Oil Company, has delivered solid results for the second quarter with a net income of $665 million, above the guidance range of $400-600 million, thus reflecting strong operational performance in a challenging operating environment.
Inward Foreign Direct Investment (FDI) in Qatar rose 3.3% by the end of Q1 2026 compared with Q4 2025, reaching QAR172.2 billion ($47.24 billion), according to results of the FDI Survey released Sunday by National Planning Council (NPC).
US President Donald Trump has signalled that Washington is putting greater emphasis on economic pressure on Iran, saying the United States is only “semi-negotiating” with Tehran as Iran grapples with severe inflation and financial strain.
Saudi Arabian Mining Company (Maaden) has reported solid results for the second quarter with its net profit surging 13% to SAR2.18 billion ($580 million) and its revenue hitting SAR10.9 billion ($2.87 billion), helped by higher commodity prices and increased gold sales volumes.
FDI Group, a UK-based specialist fire protection contractor, has expanded its regional operations with the launch of Fire Dynamics International. This new business boosts the group's presence in UAE by adding a dedicated contracting division alongside its fire safety consultancy.
European electrolyser manufacturers currently have enough capacity to meet near-term hydrogen orders, but a shortage of investable projects is leaving factories underused and putting the region’s 2030 hydrogen ambitions at risk, according to a report by the Energy Industries Council (EIC).
Etihad Rail is enhancing journeys between Abu Dhabi and Fujairah with an Emirati-inspired onboard menu by Capital Catering, created by award-winning chef Maitha Warshaw under the theme “A Journey Through the Emirates.”
FDI Group, a UK-based specialist fire protection contractor, has expanded its regional operations with the launch of Fire Dynamics International. This new business boosts the group's presence in UAE by adding a dedicated contracting division alongside its fire safety consultancy.
Islamic finance is evolving beyond its traditional role as a source of funding to become a strategic connector between liquidity-rich markets and fast-growing economies, says a new Standard Chartered report.
Dubai developer Meraas said it has teamed up with International Foundation Group to break ground on two residential buildings being developed as part of the third phase of its City Walk Crestlane, thus marking the next construction milestone in the continued expansion of the residential community.
Burjeel Holdings, a leading super-specialty healthcare services provider in the GCC, delivered resilient underlying financial performance in H1 2026 with the total revenue increasing 4.4% YoY to AED2,794 million ($760.79 million), supported by patient visits exceeding 3.7 million, up 9.9% YoY.
Implementing or expanding AI is the top priority for UAE commerce leaders this year, ahead of growing the customer base and adapting to changing buyer behaviours, says a new research from Salesforce, a leading AI CRM company.
Skyro, a digital-first consumer finance platform based in Bahrain, is expanding into Saudi Arabia and has appointed former Mastercard executive Maria Medvedeva as the regional managing director. In this role, she will oversee Skyro's market entry in Saudi Arabia and its broader expansion across the region.
Global chip giant Nvidia is teaming up with Wall Street's big guns including Apollo, Blackstone and Goldman Sachs to mobilise over $500 billion for AI infrastructure, as part of its ambitious plan to turn AI chips into a new asset class that investors can fund much like real estate or other critical infrastructure.
Space42, the UAE-based AI-powered SpaceTech company, and Autonomous A2Z (A2Z), South Korea's leading autonomous driving company, have signed a commercial agreement valued at $7 million to deploy Level-4 mobility solutions in the UAE.
PUBG MOBILE, one of the world's most popular mobile games, today announced a new collaboration between its World of Wonder (WOW) platform and UGC games studio Do Big Studios, introducing an all-new experience created exclusively for WOW.
Versatile International, the first fully integrated stone project management consultancy in the Middle East region, has started providing stone advisory services for Qiddiya City, one of the world’s most ambitious integrated city developments coming up in Saudi Arabia.
